Guideline Value for Teachers Gild Colony 1st Street

Teachers Gild Colony 1st Street guideline value

The current guideline value for Teachers Gild Colony 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO. The land classification is Residential Class I Type - I.

How the guideline value of Teachers Gild Colony 1st Street has changed

The guideline value for Teachers Gild Colony 1st Street has undergone several revisions over the years. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, this value decreased to Rs 2,010 per sq.ft in 2017, reflecting a decline of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, and most recently, it has increased to Rs 3,300 per sq.ft in the 2024 revision, representing a 10% increase.

From 2017 to 2023, the value saw a substantial increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 230%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which matches the current value for Teachers Gild Colony 1st Street.

• Teachers Gild Colony 2nd Street: Rs 3,300 per sq.ft (2024)
• Teachers Gild Colony 3rd Street: Rs 3,300 per sq.ft (2024)
• Teachers Gild Colony 4th Street: Rs 3,300 per sq.ft (2024)
• Teachers Colony Main Road: Rs 3,300 per sq.ft (2024)
• Teachers Colony 4th Cross Street: Rs 2,700 per sq.ft (2024)
• Teachers Colony 3rd Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Teachers Gild Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees together to Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Teachers Gild Colony 1st Street?

The Sub Registrar Office that covers Teachers Gild Colony 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kolathur

The guideline value is a crucial factor in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official registry.

When a property is sold, the buyer must pay the stamp duty based on the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the property's value in the market.

Frequently asked questions

What is the current guideline value for Teachers Gild Colony 1st Street?

The current guideline value for Teachers Gild Colony 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 230% over the years.

What is the land classification for Teachers Gild Colony 1st Street?

The land classification for Teachers Gild Colony 1st Street is Residential Class I Type - I.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Kolathur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the appropriate fees are paid during the registration process.